2016-07-25
CAPITALAND MALL TRUST C38U.SI
CapitaLand Mall Trust - Playing the funan card well
2Q16 DPU of 2.74Scts in line.
1H16 rental reversion up 1.7%, tenant sales 2.3% higher; occupancy high at 98%.
Sneak peak of Funan 2.0, S$560m redevelopment cost to be funded by debt; current gearing 35%.
TP raised to S$2.23, maintain HOLD.
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